Did Yelp Just Save the Bulls?: StockTwits

NEW YORK (TheStreet) -- A positive reaction to earnings as well as several analyst upgrades this morning has sent beaten down Yelp (YELP) soaring as much as +14% today, leading many on StockTwits to speculate that perhaps it has put in a bottom (at least in the short term)? Message volume on the StockTwits.com Yelp stream has been exploding as investors warm up to the idea:

 

$YELP over 30% rally from lows just days ago. A bit more to go.....and then some.

- Morpheus (@Morpheus) May. 1 at 09:33 AM

More importantly, the price action in (YELP) may be sending signals about the state of other beaten down siblings:

Who would have thought it would be $YELP that revives $SOCL? $FB $LNKD

- Andrew A (@Furan) May. 1 at 08:39 AM

Note how $TWTR disappointment couldn't hurt the momo stocks yesterday but $YELP win is juicing them up. That's bullish action

- HCPG (@HCPG) May. 1 at 08:11 AM

We wouldn't be fading $YELP with more positive comments out on $FB - looks like a bit more "rotation" back into #socialmedia $LNKD up next

- Anacott Steel (@BPGAG) May. 1 at 07:05 AM

As investors have had time to digest the latest data, some bullish themes are beginning to emerge:

If you liked this article you might like

7 Essential Rules for Investing in Tech Stocks

GrubHub Is Remarkable, So It's Crazy How Many Have People Have Bet Against It

History May Be Prologue on Snap-Like IPOs

Fantasy Football and Picking Stocks: Cramer's 'Mad Money' Recap (Tues 8/15/17)